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BYLINE: Joseph Bonney
Denmark's A.P. Moller-Maersk reported significantly improved profit from container shipping in 2007 but said earnings remain unsatisfactory and that the flagging economy is expected to slow expansion of the global container market in 2008.
The parent of Maersk Line said after-tax profit at its container shipping division was $217 million compared with a loss of $568 million in 2006, as revenue rose to $26.7 billion from $25.3 billion. The company cited higher average freight rates and a 12-percent increase in Asia-to-Europe volume, which offset a 17-percent drop in trans-Pacific volume.
Container results included APM Terminals, …